Issues with MKZ - CASE?

[daibouken]

called ipto, it seems all we can do now is file proof of bankruptcy against mike.
so at least if he want to get out of bankruptcy he hav to pay us back.
i advice you all to do so, dispite a small fee involved

 

[delson_tan]

I don't have receipt or anything much, don't know how to file sia...

 

[daibouken]

those mails that has evidence of you paying something to them will have to do liao...
i filed proof of debt for bankruptcy, cost me one mcdonalds meal..
IPTO officer said he may have to pay back if he ever decides to get out of bankruptcy

rumour has it he went bankrupt for a mere one year salary of an averge singaporean...
can mike come fwd to clarify?

 

[Strawhatpirate]

those mails that has evidence of you paying something to them will have to do liao...
i filed proof of debt for bankruptcy, cost me one mcdonalds meal..
IPTO officer said he may have to pay back if he ever decides to get out of bankruptcy

rumour has it he went bankrupt for a mere one year salary of an averge singaporean...
can mike come fwd to clarify?

care to share the steps u took to filed proof of debt for bankruptcy?

TQ

 

[daibouken]

step 1 . read the posts below.

 

[riderkickxx]

Actually, until now, I still dun know what really happen...
All I know is he ran away with our money...

And seeing how cowardly, pathetic, irresponsible, lying @$$ this person (and his wife) is, don't think he will ever come out and explain the true reason behind is bankruptcy..

Common, he even open fake POs to get ppl to transfer money to him, towards the last few months before he officially file for bankruptcy...

So if any bros here knows something, appreciate if you can share some stories..

 

[dvillangelo]

1. He got most of his Bandai stocks from local distributor. I was able to confirm this when I was invited to Bandai Presentation event (closed for shop owners / retailers only). His shop's name was in the guest list.

2. There was change in key personnel at Bandai distributor side last year, based on story from a friend who is a reseller dealing with few toy retailers here in Singapore. Under the old management, retailers can get goods with 1-month term. The manager left. Now, it's all cash on delivery since I started dealing with Bandai distributor back in May 2011. Not sure when the thing changed, but it might impact Mike's cash flow since then.

3. Point no.2 may explain why there was delay in his item arrival, from 2 weeks to 1 month. Then, from 1 month to 2 months. Since all stocks must be paid in full at the time of delivery, shops must have a lot of cash in hand or at least have strong cash flow management. Usually, the distributor will give 2-3 days notice before they deliver the stocks. He probably didn't have enough cash to pay. Then, he probably ask the distributor to hold his delivery. He waited for new POes to open (usually by month end). Then, his customers started to send in money to his account. Now, he got cash to bail out his stocks from past delivery. This kept continuing until things got worse. Snowball effect.


That's what I know and what I heard from few sources. Hope it serves the purpose as sharing (not to be taken negatively).

 

[Strawhatpirate]

step 1 . read the posts below.

OK

Step 2: i had gathered those mails that has evidence of me paying something to MIKE

Go where to filled proof of debt for bankruptcy which cost one mcdonalds meal..($7.50)?

Where is IPTO office?
"IPTO officer said he may have to pay back if he ever decides to get out of bankruptcy" over the phone or over the counter?

 

[daibouken]

waited so long , still no communication from IPTO regarding his case. shouldn't there be meeting of creditors or something scheuled? or some sort of declaration that he is bankrupt??
so i came here and pasted the number i posted :1010 2011
https://www.psi.gov.sg/NASApp/tmf/TMFServlet?app=MLAW-IPTO-PDFORM23&isNew=true&Reload=true

try this

anyways thats for sharing.had heard from Ng the new COD atrangement from bandai too, it must have ended the mike's snowball . but as we know how much toys costs and we can guess how big his customer base is, probably his part time job or his wife sure got some money to tie things over but he didint even op for DRS and straight away went into bankrutpcy.



meanwhile i need to go find this granny for /url][/QUOTE]

 

[z_rugger@hotmail.com]

What are the Bankruptcy number?

 

[ridhwan5]

SO currently, it seems the best course of action now is to file a report with IPTO? am I right to say that?

 

[Strawhatpirate]

Got this from
Information for Creditors

How do I file a Proof of Debt (Form 23)?
You can file the Proof of Debt manually or electronically.
If you would like to lodge your claim electronically, you may do so here. Alternatively, you can download the Proof of Debt form (Form 23) and file the form manually.

The Official Assignee
Insolvency & Public Trustee's Office
The URA Centre, East Wing,
45 Maxwell Road, #06-11 Singapore 069118
Tel : 6325 1500 | Fax : 6325 1417

The Proof of Debt should reflect the bankrupt’s information such as the bankrupt’s name, bankruptcy number and the creditor's particulars including name of creditor, amount owed and nature of the claim.

Documents such as Invoices and Judgments are to be furnished to the Official Assignee's Office to support your Proof of Debt. Please quote the e-filing no. and the winding up no. of the company when you submit the supporting documents. Proofs of Debt without any supporting documents might be rejected.

For online submission of Proof of Debt over the Internet, S$5.00 is payable. For manual submission, S$8.00 is payable at the Official Assignee’s Office by Nets or Cash Card.

Anyone have those information in BOLD

 

[daibouken]

very strange . i posted already somewhere below but nobody notices.
Name—MIKE CHIA YEOW FAH (S7227312E). Bankruptcy No.—1010/2011. Date of Bankruptcy Order—22/09/2011.

as published in the Government Gazette,


proof of debt does not apply and could not be filed as he is already bankrupt.

thanks

 

[Strawhatpirate]

Hey thanks shall do the e-filing soon.

One last thing - Did you submit the e-filing no. and the winding up no. of the company when you submit the supporting document?

 

[Ixnay]

So Mike got away scott free with all our $, afterall...

 

[z_rugger@hotmail.com]

ANYON manage to get their refund back???

 

[Ixnay]

ANYON manage to get their refund back???

Guess, it's a NO for all of us...

 

[josheppaul]

I want to say you that I want t remote control for my car. The old remote control is not working fine as well as before. I think this is good place to buy a RC for my car, so would you like to ell me that how can I get it?

 

[SerSiTiv]

I just read about this when he sent out a note on declaring bankruptcy.

I wonder what happened? He seemed like a nice guy and all.

 

[Hinata76]

so who is this Mike? got shop in Singapore?